LatinNews Daily Report - 15 June 2012

ENERGY | Carlos Slim buys into YPF. On 14 June the richest man in the world, Mexico's Carlos Slim, informed the Argentine security exchanges commission and its US counterpart that he had purchased 8.4% (or 32,908,506 American Depositary Shares) of Yacimientos Petrolíferos Fiscales (YPF). The shares had served as guarantees of the 2008 and 2011 loans that allowed Argentina's Eskenazi family to purchase 25.46% of YPF. The shares reverted to the banks when the Eskenazis defaulted on the loans.Taking into account that YPF shares yesterday closed at US$10.45 in New York, Slim would have paid US$343.9m for the stake in YPF. Following the confirmation of the purchase, YPF shares rose by 9.5% to US$11.45. Spain's Repsol has also regained shares that had been committed as guarantee on the loans, it now has an 11.8% stake in YPF.

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